Prepare for a jolt – electricity bills to go up 3% in April.
BC Hydro increased its fares on Monday, April 1, and, as a result, customers will have an interim net increase of 1.8 per cent added to their bills.
This amount works out to an additional $1.63 per month for residential customers.
The increase reflects the new five-year rates forecast from Phase 1 of government’s comprehensive review of BC Hydro, and are 40 per cent lower than BC Hydro’s previous rates plan.
The corporation also notes that their rates are the third lowest in North America. After adjusting for inflation, the average bill is only $2 higher than it would have been in 1978.
In addition, BC Hydro states that their customers pay roughly 30 per cent less for electricity service than Charlottetown customers, who have the highest rates in Canada. Similarly, B.C. residents pay a third what Boston customers pay, who have the highest rates in the continent.
BC Hydro adds that they have also, "proposed to increase spending on residential conservation programs by 50 per cent to help its customers save energy and money."
Earlier this year, the B.C. government agreed to pay the utility provider $1.1 billion in order to limit raising the cost to the consumer.
The NDP government said that compares with a 13.7 per cent cumulative price increase for the same period under a rate plan proposed by the B.C. Liberals when they were in power.
With files from the Times Colonist.
